Member Article

Watford’s Peak Envelopes acquires remnants of doomed Leeds printing business

Leeds-based printing company, Wepos Ltd, which traded as Print On Solutions, has ceased trading after falling into arrears with the HMRC.

The business was issued with a winding-up petition back in March after cash flow problems had meant it had ran up debts of more than £250k with HMRC and had failed to pay suppliers and staff.

Directors at the firm had setup Wepos to acquire Print On in a pre-pack deal last year, after the original company was hit with its own winding up petition from Telford-based Mail Solutions UK.

At the time, the company said the envelope and bag printing business had payments ‘seriously overdue’ after ordering around 66m envelopes between 1 January and 31 October 2015, running up debts of around £144k.

Since then, the business continued to struggle and was hit with a new winding-up petition from the HMRC this year.

Based out of the Emmanuel Trading Estate in Holbeck, the company had its bank account frozen before it ceased trading in April, with Steven Wiseglass, of Inquesta, and Gareth Lewis, of Lewis Business Recovery, appointed as joint administrators on 28 April.

Now, the administrators have sealed a deal which will see Watford’s Ebury Ltd, which trades as Peak Envelopes, acquire Print On’s customer database and stock.

Despite the sale of some of the company’s assets, Steve Wiseglass expressed regret that the company could not be sold as a going concern and that 18 jobs were lost due to the printing company shutting its doors.

He said: “Regrettably and despite several expressions of interest, the business could not be sold as a going concern.”

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